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Binance CEO Concerned About The Future Of Cryptocurrency And Explains Why!

Binance CEO Concerned About The Future Of Cryptocurrency And Explains Why!

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Answer Binance CEO Concerned About The Future Of Cryptocurrency And Explains Why!

Binance CEO CZ said on Tuesday that the Binance team includes people from more than 100 countries but they still lack talent.

Despite the crypto companies’ layoffs, the CEO of Binance has committed to continue hiring people and educating them about the crypto market, Web 3, and blockchain.

The world’s largest cryptocurrency exchange continues its global expansion for its mission to lead the next wave of cryptocurrency and blockchain adoption.

Binance is looking for more talent amid layoffs:

Crypto companies including Coinbase, Crypto.com, Celsius, Bybit, and BlockFi have laid off thousands of their workforces.

The collapse of FTX has prolonged the crypto winter, forcing companies to continue laying off employees around the world.

Read:MoneyGram and Ripple enter the Egyptian market through the Suez Canal Bank

CZ told Binance CEO in a tweet dated December 6:

The Binance team has more than 100 nationalities.

We are still missing a large number.

Recently, Binance announced plans to hire 8,000 employees by the end of 2023.

The move comes as the cryptocurrency market remains under pressure due to the FTX crisis and macroeconomic factors.

In addition, Binance has also committed nearly $2 billion to the Industry Recovery Recovery Initiative to help crypto firms deal with liquidity problems after the FTX collapse.

CZ also tweeted that Binance has teamed up with law enforcement agencies in Singapore, Malaysia and Thailand in the past three weeks to provide hands-on cryptocurrency training and workshops for investigators and prosecutors.

It included a two-day training in collaboration with the Anti-Money Laundering Bureau of Thailand to address the basics of cryptocurrency.

Trading activity on Binance increased after the FTX crisis:

While some blame Binance for the collapse of FTX after it announced the sale of FTT coins, they see that the CEO of Binance did it earlier to prevent FTX from becoming big and competitive.

Read:Ethereum founder Vitalik Buterin reveals why he didn’t join Ripple in 2013

Binance reported a 30% increase in trading activity after cryptocurrency exchange FTX declared bankruptcy.

Binance’s BNB coin is trading at $287, down more than 2.5% in the last 24 hours.

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